Property Type

Colliers Facilitates $9.7M Sale of Multifamily Property in Boston

by Amy Works October 11, 2016

BOSTON — Colliers International has arranged the sale of a multifamily property located at 256 Parker Hill Ave. in Boston’s Mission Hill neighborhood. Qianlong Management sold the property to Tremont Asset Management for $9.7 million, or $303,516 per unit. The 32-unit property comprises two garden-level apartment buildings offering a mix of studio and two-bedroom units and 16 surface parking spaces. Christopher Sower, Jen Price, Jonathan Bryant and Maggie Collins of Collins represented the seller. Additionally, Stephen Horan, also of Colliers, coordinated the acquisition financing through JP Morgan Chase on behalf of the buyer.

October 11, 2016

Industrial Loans New Jersey Northeast

G.S. Wilcox & Co. Secures $7M in Financing for Industrial Park in Blackwood, New Jersey

by Amy Works October 11, 2016

BLACKWOOD, N.J. — G.S. Wilcox & Co. has arranged a $7 million loan for a six-building industrial-flex park in Blackwood. The loan is fixed for a seven-year term with a 25-year amortization. The 240,000-square-foot property is nearly 95 percent leased to more than 30 tenants. The financing was provided by Southern Farm Bureau Life Insurance Co. for the undisclosed borrower.

October 11, 2016

Connecticut Loans Multifamily Northeast

Greysteel Secures $3.1M in Refinancing for Multifamily Property in Milford, Connecticut

by Amy Works October 11, 2016

MILFORD, CONN. — Greysteel has arranged $3.1 million in refinancing for Spinnaker Brook, a multifamily property located at 158 Cherry St. in Milford. The 10-year, non-recourse loan features a fixed rate and three years of interest-only payments followed by a 30-year amortization schedule. The loan was provided by an agency lender under the Freddie Mac Small Balance Loan program. Anton Mattli and John Marshall Doss of Greysteel negotiated the loan for the undisclosed borrower.

October 11, 2016

Midwest Missouri Mixed-Use Multifamily Office Retail

Cullinan Properties Develops 150,000 SF Mixed-Use Property in St. Louis

by Amy Works October 11, 2016

ST. LOUIS — Cullinan Properties hosted a grand opening celebration on Thursday, Oct. 6, for Lofts@Euclid, a mixed-use building located at the corner of Euclid and Delmar in St. Louis’ Central West End. The 150,000-square-foot project involved the complete renovation of the historic Langan and Taylor Co. building, which was originally developed by Widman & Walsh. The redeveloped building by Cullinan Properties features 87 loft apartment units, ground-level retail and office space, a fitness center, rooftop deck and clubhouse area. Constructed in 1910, the building is one of the largest commercial buildings remaining in the Central West End historic district. Residents began occupying the building in June, and the building is approximately 70 percent leased.

October 11, 2016

Midwest Missouri Retail

QuikTrip to Add Three Next-Gen Stores to Lee’s Summit

by Amy Works October 11, 2016

LEE’S SUMMIT, MO. — QuikTrip has expanded its presence in Lee’s Summit with three city-approved Next-Gen convenience stores. Slated for completion in 2017, the new stores represent a more than $15 million investment in the area. The new stores, which each will employ 15 to 17 people, will be located at Mulberry and Missouri Route 291, Missouri Route 291 and Missouri Route 150, and 800 NE Woods Chapel Road. The store at Mulberry and Missouri Route 291 will be new construction, while the other stores will be redeveloped into the company’s Next-Gen store format. The company’s Generation 3 stores are about 5,700 square feet, 1,000 square feet larger than typical QuikTrip stores, and create a more upscale experience. The stores include indoor and outdoor dining areas with a touchscreen for customers to place orders with baristas for hot or cold drinks, smoothies and soft-serve ice cream. Additionally, Next Gen stores also serve alcoholic beverages and fresh food offerings.

October 11, 2016

Industrial Michigan Midwest

Bader USA Acquires 12,000 SF Industrial Building in Rochester Hills, Michigan

by Amy Works October 11, 2016

ROCHESTER HILLS, MICH. — Bader USA has acquired an industrial building located at 2944 Waterview Drive in Rochester Hills. Bader will use the 12,000-square-foot high-tech facility to house its North American sales, technical support and research and development operations. Garry Rogers and Al Iafrate of L. Mason Capitani CORFAC International represented the buyer in the deal. The name of the seller and the sales price were not released.

October 11, 2016

Illinois Midwest Multifamily

Essex Realty Brokers $1.5M Sale of Multifamily Building in Chicago

by Amy Works October 11, 2016

CHICAGO — Essex Realty Group has arranged the sale of a seven-unit multifamily building located at 1223-25 W. Foster Ave. in Chicago’s Andersonville neighborhood. An undisclosed buyer acquired the property for $1.5 million. The walk-up building features one two-bedroom, one-bath garden apartment; four two-bedroom, one-bath apartments; and two three-bedroom, one-bath apartments. Additionally, the property features five parking spaces. Steve Livaditis, Joe Scheck and Brian Karmowski of Essex represented the undisclosed seller, while Doug Imber and Kate Varde, also of Essex, represented the buyer in the deal.

October 11, 2016

Indiana Industrial Midwest Office Retail

Bradley Company Commercial Real Estate Completes Five Transactions in Indiana

by Amy Works October 11, 2016

AUBURN AND FORT WAYNE, IND. — Bradley Company Commercial Real Estate has completed five transactions in Auburn and Fort Wayne. In the first transaction, Carl Diehm of Bradley represented the landlord, Cenway Center, and the tenant, Agri-Labs Inc., in the lease of 2,160 square feet of retail space at 915 Cardinal Court within Cenway Business Center in Auburn. In the second deal, Tyler Binkley of Bradley represented the Feuser Contracting Inc. in the sale of an 11,992-square-foot office building at 7702 Bluffton Road in Fort Wayne. The name of the buyer and acquisition price were not released. In the third transaction, Stanley Phillips and Kelly Castle of Bradley represented the landlord, RITS Ltd. Brokers in the lease negotiation of retail space at 6127 Stellhorn Road within Maplewood Plaza in Fort Wayne. The name of the tenant and lease size were not released. In the fourth deal, Phillips represented the landlord, Fort Wayne Associates, and Binkley represented the tenant, Phil’s Hobby Shop, in the lease of retail space located within Parkwest Center at 3938 W. Jefferson Road in Fort Wayne. In the last deal, Paul Refakis of Bradley represented the landlord, Lynn Leasing, and Kienan O’Rourke of Bradley represented the tenant, Blasius …

October 11, 2016

Georgia Mixed-Use Southeast

Georgia Tech Foundation Closes Purchase of The Biltmore in Midtown Atlanta

by John Nelson October 11, 2016

ATLANTA — The Georgia Tech Foundation has finalized its purchase of The Biltmore, a 286,931-square-foot mixed-use property located on West Peachtree Street in Midtown Atlanta. The property features Class A loft office space, three ground-floor restaurants and two restored ballrooms for events. According to the Atlanta Business Chronicle, the asset sold for $64 million. The Biltmore is situated across West Peachtree Street from Technology Square and will serve as an extension of Georgia Tech with a focus on growing startups and attracting corporations. Jay O’Meara, Will Yowell and Justin Parsonnet of CBRE’s Atlanta office represented the seller, Atlanta-based Novare Group.

October 11, 2016

Loans North Carolina Retail Southeast

JPMorgan Chase Funds $60M Refinancing of Shopping Center in Metro Charlotte

by John Nelson October 11, 2016

MATTHEWS, N.C. — JPMorgan Chase Bank NA has provided the $60 million refinancing of Windsor Square Shopping Center, a 661,156-square-foot retail power center in Matthews, a suburb of Charlotte. Completed in 1987 and renovated in 2014, Windsor Square was 96 percent leased at the time of financing to tenants such as Sam’s Club, hh gregg, J.C. Penney, PetSmart, Tuesday Morning, Kohl’s, Lifetime Fitness, Ross Dress for Less, Outback Steakhouse, DSW, Shoe Carnival and Mattress Firm. Chris Drew, Brent Bowman and Brian Gaswirth of HFF arranged the 10-year, fixed-rate loan through JPMorgan Chase. The borrower, Sterling Organization, used the loan to pay off a maturing CMBS loan.

October 11, 2016

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